Presentation by David Graubard, Thomson IFR Markets, Senior Analyst, Structured Finance

On May 22, 2002 JPMorgan Securities earned the honor of pricing the first senior subordinate, multi-tranche collateralized fund obligation backed by hedge fund assets for Man Group plc. Man-Glenwood Alternative Strategies CFO (MAST) was upsized to $550 million from $500 million. The U.K.-based Man Group currently has $20 billion in assets and has established itself as the benchmark issuer to beat, according to upcoming hedge fund issuers.

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